Customer Reviews

Understanding Partnership Accounting (Second Edition)

5 star:		(1)
4 star:		(2)
3 star:		(1)
2 star:		(0)
1 star:		(0)

 

 

The book provides an introductory overview of partnership accounting. All the calculations and formulas cited in the book are from its own software. Those similar formulas are also provided in other softwares which are much more commonly used, e.g. MS Excel. Lots of time spent on the tax allocations rather than on the P&L allocations. There're also apparent errors in the formulas as well, such as the annualized return calculation on P. 246.

This book is well-written and is easy to understand even if a person has no clue about hedge funds and their inner workings. It provides knowledge of partnership accounting relating to hedge funds without using complicated industry lingo. Excellent choice to buy to understand the history of hedge funds and its evolution. It also provides an intimate knowledge of the hedge fund industry today along with relevant regulatory guidelines. Understanding Partnership Accounting (Second Edition)

This book is a good account of the fundamentals of Partnership Accounting. I would suggest that unless you do not have any experience in the space look for a more detailed compilation.

On a brighter note, it serves as a good COMPLETE coverage of the Alternative Investments space from a cursory accounting and record keeping perspective.

I would say read it nonetheless if you have the time/luxury.

-Richie Etwaru

The book is well organized. Practical. A nice starter's book for accountant who wants to get in the door of private equity fund's accounting world.